KARACHI:State Bank of Pakistan (SBP) on Tuesday informed that workers’ remittances recorded an inflow of US$2.1 billion during May 2023. According to the SBP information, in terms of growth, during May 2023, remittances decreased by 4.4 percent on m/m and by 10.4 percent on y/y basis.
With cumulative inflows of US$ 24.8 billion during first 11 months of FY23, workers’ remittances decreased by 12.8 percent as compared to the same period last year. Remittances inflow during May 2023 was mainly sourced from Saudi Arabia ($524 million), United Arab Emirates ($335.8 million), United Kingdom ($306.5 million) and United States of America ($257.2 million).